I have a T2, bought it last year for £5k, and have some bodywork to sort on it (I knew this when I bought it). It's a late bay (very early 1980), 1.6 air-cooled, has a Danbury pop top and the interior is very retro (1973 Westfalia Continental: got a sink/coolbox unit, a two ring burner and lots of storage space). It has a full width RnR bed at the back, and that fits me and DD12 without issue (my DCs - aged 19 and 12 - do have their own pup tents that they sleep in though). It's very basic (no heater or EHU installed) but I have an EHU lead from tent camping days and a good leisure battery/solar panel set up (again from tent camping times). I can potter about in the van easily enough with the pop top down, but of course there is more space with it up. There are two bunk bed hammocks in the pop top but they're for smaller kids (up to 40kg). I was considering upgrading the bunks to take up to 60kg but no real need for that. The RnR bed is VERY comfortable! Sleeping in the T2 is lovely. I tend to travel light, so set up and packing away is quick. Having the T2 makes it a lot quicker. I'm tempted to buy a small trailer for it but that will have to wait for the time being.
Work to do on it: body work, rear seatbelts, Lite Steer, eventually a diesel heater. I'd like to sort the gears on it and install a brake servo. I've already cut in an inspection hatch for the fuel sender and put in a new one. Eventually will mod the pop top so it's easier for me to put up and down (I'm 5ft3 and 8stone, and the pop top is heavy!). I'm going to sound completely nuts, but am seriously considering using it as my daily drive: I've only done 8k miles in my salary sacrifice lease car since I got it in Dec '23, so I'm thinking that may as well use my own T2 once I hand back the lease car at the end of the 3yr lease! I have an ebike and a 125cc scooter too. Most of my journeys are within a 5mile radius of home (aside from days out or camping trips).
Pro's: easy/cheap to service (I'm learning how to do this myself - the other week, I changed the carb on it and tuned it up, fitted a new oil breather pipe, tidied up some old cables and fitted new spade connectors and sorted the fan belt as it was a bit loose), cheap to insure, tax/MOT exempt, it's a nice smallish size for me to nip about in. Oh and it looks cool, and puts a smile on my face every time I look at it.
Cons: it's an old vehicle, with no mod cons (so no power steering, it has questionable windscreen wipers, a windsceen wash system that is pressurised using a bicycle pump, and has no reverse cams, or heater!), the gears are evil (and I can drive manual!). It's slow (can do 70 but takes its time!). Not always easy to find places that will work on them (hence me wanting to learn as much as possible). Obvs old vans have quirks (lots of them) - it's a steep learning curve.
What about looking at a T4? You sort of have the best of both worlds: nice size, bit more modern than my T2 (so probably easier to find garages/mechanics), bit more space than a Caddy sized van.